Business

Why, when to protest valuation

Property owners who want to protest the valuation notices they receive should contact their county assessor, but they must do so by June 1 — except in Denver, where residents now have a full six months.

Protests are usually based on characteristics of the house being wrong, such as too many bedrooms listed, or because of a value the owner considers incorrect.

Property owners should base a protest on prices as of June 30, 2012, which is the cutoff date assessors used.

Don't protest the overall tax rate, which is a separate issue, and weigh the costs versus the benefits. In Jefferson County, a $1,000 reduction in the property value translates into an $8 savings in taxes per year on the average home.

Instructions on how to protest are included with the notices of valuation that property owners will receive. An appeals process is also available after the initial protest.

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